Experience
- Cliffe Dekker Hofmeyr is representing NS Group, the leading South Africa-based level 1 boutique investment company. Our South Africa-based corporate/M&A team advised NS Group on disposing of an interest in a unique new game camp development in Botswana, to a Philippines-based company, to establish state-of-the-art hospitality operations on the game camp. We were involved in drafting and negotiating a variety of agreements including a complex share and subscription agreement and management agreement. We also were involved in advising NS Group on agreements and documents drafted in accordance with the laws of Botswana to acquire and/or lease property in Botswana from the Tawana Land Board and to manage and development. The deal was innovative as a Philippines-based company partnered with a Botswana-based company to develop a unique game lodge. If a success, this will lead to many more investments from international players in Botswana. This was a complex matter as it required understanding of how game camps operate and generate revenue, and drafting and negotiating agreements which would be in the interests of the parties involved. This is clearly the caseload of a market-leading team.
- Cliffe Dekker Hofmeyr is representing Bud Group, the South Africa-based holding company for a significant industrial services and minerals beneficiation group, grown out of the private equity portfolio of Investec Bank; and its holding company, IEP Group. Our South Africa-based corporate/M&A team, together with our tax team, is advising Bud and IEP on transactions with their shareholders. The major shareholders of IEP which will exit their shareholding through these transactions, include Investec (LSE-/JSE-listed), Steinhoff International (Frankfurt Stock Exchange-/JSE-listed) and the Entrepreneurship Development Trust. The interlinked transactions will restructure Bud Group and the shareholdings of Bud and IEP by transferring assets of Bud into a newly-established structure to facilitate their disposal. The proceeds will be applied to repurchase shares from the exiting shareholders of IEP by proposing a merger between the shareholders of Bud and the shareholding of IEP; and by the remaining, non-exiting shareholders investing in the group. We worked in close collaboration with our teams across practices to provide comprehensive legal advice on all aspects of the transactions, including aspects involving corporate and commercial (M&A); corporate finance, tax; regulatory; and banking & finance among more. We advised on the transaction structuring, the negotiation of the various transactions with disparate stakeholders, including management and ex-management of the group and shareholders from the various portfolio companies; and the drafting of the various agreements and the scheme of arrangement to give effect to the transactions. The negotiations were particularly complex given the highly intricate nature of Bud and IEP’s capital structure; the substantial number of different shareholders in a private company environment; and the different considerations in relation to preserving all parties’ interests. The tax-related aspects of this matter were also particularly complex, and required an innovative approach to structuring the deal. This is clearly the multi-layered, cross-practice caseload of a highly-skilled. capability.
- Cliffe Dekker Hofmeyr is advising Sun International, the leading South Africa-based resort hotel and casino destination listed on the JSE. Our South Africa-based commercial, corporate/M&A team is advising Sun International on its proposed ZAR 3.2 billion acquisition of Peermont Holdings, a leading hospitality and entertainment group which operates 11 properties located across South Africa and Botswana, in addition to an online sportsbook. The deal was signed and announced in December 2023, and is now subject to regulatory approvals.
- Cliffe Dekker Hofmeyr is representing Komatsu South Africa, the leading south Africa-based player in the transport sector, specialising in providing cutting-edge solutions for mining and construction industries. As the country's leading subsidiary of Komatsu, a global leader in heavy machinery (yellow equipment), Komatsu South Africa's operations are critical to the region's economic growth and development. Our South Africa-based shipping & transport team is a key adviser to Komatsu South Africa. Here we highlight how our deep understanding of the transport sector, coupled with our expertise in corporate and commercial law, makes us the preferred legal partner for major clients such as Komatsu South Africa.